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Hedge Fund Sues
To Block Registry
Of Advisers by SEC

WASHINGTON -- A New York hedge-fund manager sued federal securities regulators in an effort to block a rule that will force hedge-fund advisers to register with the government for the first time.

Phillip Goldstein, who manages Opportunity Partners LP, filed the complaint Monday in federal court here, arguing that the Securities and Exchange Commission overstepped its bounds in trying to regulate the $870 billion industry. The lawsuit charges that the SEC's rule goes beyond the intent of Congress, was never justified and amounts...